California Agency Approves Up to $1.9 Billion Hospital Bond for Loma Linda University Health
The California Statewide Communities Development Authority voted at its Oct. 15 meeting to approve issuing as much as $1.9 billion in municipal bonds to refinance debt and fund improvements at the Southern California hospital network operated by Loma Linda University Health, according to Bloomberg. The tax-exempt bonds would refinance existing debt and pay for construction, renovations and equipment at three hospital campuses, with as much as $133 million toward routine capital costs.
Nonprofit hospitals can borrow through municipal bond issuers because federal tax law allows tax-exempt financing for qualifying charitable organizations. Loma Linda University Health, based in Loma Linda in San Bernardino County, is one of the region's major academic health systems.
Published by GSM · USA (original Chinese edition)
Photo: 图/Wikimedia Commons，作者 Lroehlig，授权 CC BY-SA 4.0 · Image: Wikimedia Commons, by Lroehlig, CC BY-SA 4.0
